The U.K. has fallen out of favor as an emigration destination for China’s wealthy, according to a new report which pips Canada in front. The U.S. remains the preferred destination for Chinese millionaires considering a move overseas, but for the first time Britain has fallen behind Canada, the 2017 study by China’s Hurun Research and […]
Read moreFintech startups have raised a record $1.27 billion by selling bitcoin and other cryptocurrencies through initial coin offerings (ICOs), the initial public offerings (IPOs) of the digital world, a report has found. Funds raised by ICOs far outstripped venture capital investment in startup companies, according to the report by equity and research firm Autonomous. It […]
Read moreI’m sorry to inform you that perhaps some robots are taking this whole “be more human” thing a bit too far. I’ve seen people make jokes about jumping into a river or out of a window when they feel distressed, but one DC-based security robot appears to have interpreted this on a literal level. TWEET […]
Read moreChina’s investors and markets are becoming increasingly important to Israel’s economy, and in particular to its booming high-tech industry. The first IPO (initial public offering) of an Israeli high-tech company on a Chinese stock exchange, Hong Kong, is expected within the year and Chinese investments in Israeli high-tech venture capital approached $1 billion in 2016, […]
Read moreCurrency, United States Finance
UK inflation surprises with June slowdown, easing pressure on Bank of England
British inflation unexpectedly slowed for the first time since October last month, adding to the likelihood that the Bank of England will keep interest rates at a record low in August. Consumer prices rose by 2.6 percent compared with a year earlier, the Office for National Statistics said on Tuesday, down from a nearly four-year […]
Read moreRussia has threatened to take retaliatory measures against the United States after diplomatic talks collapsed over the seizure of two mansions. U.S. and Russian officials met on Monday to reach an agreement over sanctions imposed by the Obama administration over alleged Russian hacking in the 2016 presidential campaign. However, the Russian foreign ministry said Tuesday […]
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While peer-to-peer car-sharing and ride-sharing may have been around for years, Chinese start-ups have kicked things up a notch by offering shared-electric cars. Among the services available is EvCard, a rental service offering the shared-use of Chinese-made electric cars. High-end rental options include Teslas or BMWs available at a different fee structure. After paying a […]
Read moreWhen President Donald Trump pushed “Made in America” week starting on Monday, Chinese electric vehicle maker BYD might not have been top of mind. But the Warren Buffett-backed company has its sights set on expanding in the U.S. market with its Lancaster, California, production facility set for completion next month, Stella Li, president of BYD […]
Read moreCurrency, United States Finance
Ericsson cuts 2017 market forecast as second-quarter earnings lag consensus
Mobile telecom equipment maker Ericsson reported a heavier than expected second-quarter loss on Tuesday and lowered its mobile infrastructure market forecast, dealing a fresh blow to the Swedish firm as it tries to restore profitability. The company has slashed jobs and accelerated cost cuts while shares have lost roughly a third of their value in […]
Read moreMarket fundamentals look fairly strong, but political fears have held investor spirits in check, Kate Moore, chief equity strategist at BlackRock Investment Institute, told CNBC on Tuesday. “There’s been a tremendous amount of anxiety about taking equity risk so far this year,” she told CNBC’s “Squawk Box,” adding that the fear came despite “pretty good” […]
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